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Even With Troubles, Money Flows Into Proptech

As the flood continues, it is important to know when technology with your name on it comes along.

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There’s been an abundance of sour news over the last couple of months for the proptech industry. By the end of 2023, venture funding for the category dropped by 42.4% year over year. A one-time unicorn (startup with a valuation of at least $1 billion in funding rounds) crashed, burned, laid off all its workers, and got sold off.

It’s a concern for CRE companies using the software and hardware from these firms. Will someone disappear from under your feet? Concern that the product line you implemented probably doesn’t have the funding it needs to get to where they promised they would eventually be?

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Erik Sherman

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